data as of
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Price arb /

BTC

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Spread before costs (cost unknown: a leg has no order-book sample)−0.116%
7d average+0.040%if it closes, per $10,000$12funding while held, a day+$0.35
Long on Variational OmniShort on Arcus
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVariational Omni BTC85,816.10.0088pay 0.0088% / 8h7h 25m$172.3M$505.0M—
ShortArcus BTC-USD85,716.80.0100get 0.0013% / 1h25m 39s$6.5M$84.4M40x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$11.58
Funding while held
$0.35
Slippage, 4 orders
no order book: not counted
Fee Variational Omni: 0 bp × 2 orders
$0
Fee Arcus: 2.25 bp × 2 orders
−$4.5
Net
−$15.73
Spread needed to break even
0.045%
Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Arcus: live order book, 5 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0012%
Per $10,000 a day
+$0.35
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Variational Omni RFQ quote, 5 min ago0.50 bpdoesn't fit0.5 bp −$52.0 bp −$200doesn't fit
Sell Arcus live order book, 5 min ago0.01 bp3.2 bp −$33.5 bp −$355.1 bp −$507doesn't fit

BTC price on every exchange

against the cheapest. Click to use as the short leg.
Arcus85,716.8cheapest
Binance85,743.3+0.031%OKX85,743.5+0.031%Bybit85,750+0.039%Popdex85,754+0.043%Bulk85,754.9+0.044%Bitget85,757.5+0.047%BingX85,759.3+0.050%MEXC85,761.4+0.052%Extended85,761.8+0.052%Katana Perps85,767+0.059%Gate85,767+0.059%KuCoin85,778.1+0.072%01 Exchange85,782.2+0.076%RISEx85,788.1+0.083%Lighter RH85,792.5+0.088%Lighter85,794+0.090%Paradex85,794.4+0.091%Ondo Perps85,800+0.097%Aster85,803.1+0.101%Pacifica85,810.1+0.109%dYdX85,811.7+0.111%
Variational Omni85,816.1+0.116%
Aevo85,820.7+0.121%SunX85,828.6+0.130%SoDEX85,829+0.131%HTX85,830.2+0.132%Phemex85,834.1+0.137%Derive85,838.4+0.142%Nado85,842.1+0.146%Orderly85,843.8+0.148%Backpack85,847.5+0.152%Hotstuff85,848+0.153%Perpl85,864.4+0.172%Reya85,864.5+0.172%Bullet85,866.8+0.175%Bluefin85,872.6+0.182%Kraken Futures85,873.9+0.183%gTrade (Gains Network)85,878+0.188%Polymarket Perps85,879+0.189%Aftermath Perps85,885.8+0.197%BloFin85,886.4+0.198%GMX85,888.9+0.201%edgeX85,896+0.209%StandX85,896.8+0.210%Deribit85,900.4+0.214%Jupiter Perps85,904.5+0.219%Hyperliquid85,905+0.220%Kalshi85,907+0.222%ApeX Omni85,908.2+0.223%Phoenix85,913+0.229%Vest85,918.1+0.235%Injective85,925+0.243%Coinbase International85,943.9+0.265%Hibachi85,944.6+0.266%

BTC on 55 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Arcus BTC-USDshort−0.116%+0.0100%1h$6.5M$84.4M40x
Binance BTCUSDT−0.085%+0.0043%8h$9.47B$21.95B150xas long as short
OKX BTC-USDT-SWAP−0.085%+0.0015%8h$2.65B$11.60B100xas long as short
Bybit BTCUSDT−0.077%+0.0001%8h$5.22B$8.59B150xas long as short
Popdex BTCUSDT−0.072%+0.0096%1h$8.5M$46.8M100xas long as short
Bulk BTC-USD−0.071%+0.0019%1h$558.8M$146.4M40xas long as short
Bitget BTCUSDT−0.068%−0.0004%8h$2.97B$4.68B150xas long as short
BingX BTC-USDT−0.066%−0.0004%8h—$1.39B—as long as short
MEXC BTC_USDT−0.064%+0.0042%8h$5.12B$5.22B500xas long as short
Extended BTC-USD−0.063%+0.0048%1h$48.7M$206.2M50xas long as short
Show all 55 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Katana Perps BTC-USD−0.057%+0.0100%8h$197K$5.7M50xas long as short
Gate BTC_USDT−0.057%+0.0046%8h$6.08B$9.44B200xas long as short
KuCoin XBTUSDTM−0.044%+0.0009%8h$790.9M$615.3M125xas long as short
01 Exchange BTCUSD−0.040%−0.0056%1h$291K$2.4M50xas long as short
RISEx BTC/USDC−0.033%+0.0132%1h$8.9M$38.3M25xas long as short
Lighter RH BTC−0.028%+0.0096%1h$24.6M$134.8M50xas long as short
Lighter BTC−0.026%+0.0096%1h$171.6M$927.9M50xas long as short
Paradex BTC-USD-PERP−0.025%+0.0093%8h$4.4M$6.8M50xas long as short
Ondo Perps BTC-USD.P−0.019%+0.0100%1h$3.9M$16.2M25xas long as short
Aster BTCUSDT−0.015%+0.0029%8h$497.5M$1.13B200xas long as short
Pacifica BTC−0.007%+0.0100%1h$36.6M$374.9M50xas long as short
dYdX BTC-USD−0.005%0.0000%1h$17.2M$17.6M50xas long as short
Variational Omni BTClong0.000%+0.0088%8h$172.3M$505.0M—
Aevo BTC-PERP+0.005%+0.0040%1h$2.4M$1.4M20xas long as short
SunX BTC-USDT+0.015%+0.0100%8h$3.3M$6.0M100xas long as short
SoDEX BTC-USD+0.015%−0.0033%1h$60.8M$283.8M40xas long as short
HTX BTC-USDT+0.016%+0.0100%8h$2.29B$842.5M200xas long as short
Phemex BTCUSDT+0.021%−0.0024%8h$148.8M$413.6M150xas long as short
Derive BTC-PERP+0.026%+0.0100%1h$30.3M$60.7M15xas long as short
Nado BTC-PERP+0.030%+0.0100%1h$23.3M$226.2M50xas long as short
Orderly PERP_BTC_USDC+0.032%+0.0100%8h$2.4M$7.3M100xas long as short
Backpack BTC_USDC_PERP+0.037%+0.0100%1h$37.4M$117.8M75xas long as short
Hotstuff BTC-PERP+0.037%−0.0080%1h$9K$4K50xas long as short
Perpl BTC+0.056%−0.0335%43m$398K$28.2M6.7xas long as short
Reya BTCRUSDPERP+0.056%−0.0019%1h$6.7M$138.0M40xas long as short
Bullet BTC-USD+0.059%+0.0080%1h$232K$3.3M20xas long as short
Bluefin BTC-PERP+0.066%−0.8000%1h$142K$408K40xas long as short
Kraken Futures PF_XBTUSD+0.067%−0.0040%1h$187.9M$815.5M100xas long as short
gTrade (Gains Network) BTC/USD+0.072%L +0.0005% / S −0.0004%1h$36.8M—200xas long as short
Polymarket Perps BTC-USD+0.073%+0.0100%1h$11.0M$11.6M50xas long as short
Aftermath Perps BTCUSD+0.081%+0.0054%1h$87K$149K20xas long as short
BloFin BTC-USDT+0.082%−0.0077%8h$421.7M$567.0M150xas long as short
GMX BTC/USD [WBTC.b-USDC]+0.085%L +0.0171% / S −0.0147%1h$12.4M—200xas long as short
edgeX BTCUSDC+0.093%+0.0100%4h$278.4M$889.4M100xas long as short
StandX BTC-USD+0.094%+0.0092%1h$30.6M$230.9M40xas long as short
Deribit BTC-PERPETUAL+0.098%+0.0094%1h$911.3M$1.12B50xas long as short
Jupiter Perps WBTC-PERP+0.103%L +0.0104% / S +0.0048%1h—$87.7M500xas long as short
Hyperliquid BTC+0.104%+0.0123%1h$3.90B$4.43B40xas long as short
Kalshi KXBTCPERP+0.106%+0.0103%8h$14.5M$606.0M6.4xas long as short
ApeX Omni BTCUSDT+0.107%−0.0055%1h$138.6M$317.8M100xas long as short
Phoenix BTC+0.113%−0.0116%1h$1.9M$11.4M40xas long as short
Vest BTC-PERP+0.119%+0.0100%1h—$11.9M50xas long as short
Injective BTC/USDC PERP+0.127%−0.0137%1h$308K$27.0M52xas long as short
Coinbase International BTC-PERP-INTX+0.149%+0.0112%1h$128.6M$6.14B50xas long as short
Hibachi BTC/USDT-P+0.150%+0.0128%1h$732K$7.4M30xas long as short